VNET Group (NASDAQ:VNET) Trading 5.5% Higher – Should You Buy?

Shares of VNET Group, Inc. (NASDAQ:VNET) traded up 5.5% on Monday . The company traded as high as $4.03 and last traded at $4.03. 233,073 shares changed hands during trading, a decline of 85% from the average session volume of 1,508,027 shares. The stock had previously closed at $3.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. Citigroup started coverage on VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3.97.

VNET Group Trading Up 3.7 %

The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.72, a PEG ratio of 8.08 and a beta of -0.30. The business has a 50 day simple moving average of $2.84 and a 200-day simple moving average of $2.27.

VNET Group (NASDAQ:VNET) last posted its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. The firm had revenue of $274.35 million during the quarter, compared to analysts’ expectations of $266.56 million. As a group, equities analysts expect that VNET Group, Inc. will post 0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalina Capital Group LLC acquired a new position in shares of VNET Group during the first quarter worth about $26,000. Ballentine Partners LLC acquired a new position in shares of VNET Group during the second quarter worth about $36,000. AXA S.A. acquired a new position in shares of VNET Group during the second quarter worth about $65,000. Headlands Technologies LLC boosted its position in shares of VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after buying an additional 39,050 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of VNET Group during the third quarter worth about $262,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.